Common use of Existing Credit Support Clause in Contracts

Existing Credit Support. The Account Party agrees that, as a condition to issuing the Letter of Credit and as security for the payments of the Obligations, it shall, and shall cause its Subsidiaries who are party to the Collateral Trust and Intercreditor Agreement to, on the Effective Date, execute the Accession Agreement. The Account Party represents and warrants that upon the execution and delivery of the Accession Agreement the guarantees, pledges, grants of security interests and other obligations provided as credit support for the obligations referenced in the Collateral Trust and Intercreditor Agreement (and other documents related thereto) shall provide equal and ratable credit support for the Obligations in accordance with the terms of the Collateral Trust and Intercreditor Agreement.

Existing Credit Support. The Account Party agrees that, as a condition to issuing the Letter issuance of Letters of Credit hereunder and as security for the payments of the Obligations, it shall, and shall cause its Subsidiaries who are party to the Collateral Trust and Intercreditor Agreement to, on the Effective Date, execute the Accession Agreement. The Account Party represents and warrants that upon the execution and delivery of the Accession Agreement the guarantees, pledges, grants of security interests and other obligations provided as credit support for the obligations referenced in the Collateral Trust and Intercreditor Agreement (and other documents related thereto) shall provide equal and ratable credit support for the Obligations in accordance with the terms of the Collateral Trust and Intercreditor Agreement.